Biden’s executive order bans investment in China’s shipbuilders

The Biden administration has banned U.S. investments in Chinese companies allegedly linked to China’s military, expanding hard-line policies introduced by the previous administration.

The executive order bans American citizens from investing in some of the leading defense and surveillance technology firms.

These also include the country’s shipbuilding majors: China Shipbuilding Industry Company Limited, China Shipbuilding Industry Group Power Company Limited, and China State Shipbuilding Corporation Limited.

The order also targets China National Offshore Oil Corporation (CNOOC), China’s primary offshore oil and gas developer; and China Communications Construction Corporation (CCCC).

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